Immatics (NASDAQ:IMTX) Shares Down 3.8% - Here's Why

Immatics N.V. (NASDAQ:IMTX - Get Free Report) traded down 3.8% during trading on Wednesday . The company traded as low as $5.91 and last traded at $5.91. 413,923 shares traded hands during trading, a decline of 37% from the average session volume of 659,013 shares. The stock had previously closed at $6.14.

Wall Street Analyst Weigh In

Several analysts have issued reports on IMTX shares. Cantor Fitzgerald restated an "overweight" rating on shares of Immatics in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Immatics in a report on Wednesday, May 28th. They issued a "buy" rating and a $10.00 target price on the stock. Finally, Wall Street Zen downgraded Immatics from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Immatics presently has an average rating of "Moderate Buy" and an average price target of $14.67.

Immatics Trading Down 4.7%

The firm's 50 day moving average price is $5.00 and its 200-day moving average price is $5.41. The company has a market cap of $711.07 million, a P/E ratio of -34.41 and a beta of 0.83.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $0.04. Immatics had a negative net margin of 14.73% and a negative return on equity of 4.52%. The firm had revenue of $20.12 million for the quarter, compared to analysts' expectations of $14.92 million. Analysts predict that Immatics N.V. will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of Immatics

Large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock worth $25,000 after purchasing an additional 2,231 shares in the last quarter. Virtus ETF Advisers LLC increased its position in shares of Immatics by 34.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company's stock valued at $68,000 after acquiring an additional 2,479 shares during the last quarter. Intellectus Partners LLC bought a new stake in Immatics during the first quarter worth about $70,000. Guggenheim Capital LLC acquired a new position in Immatics during the fourth quarter valued at approximately $101,000. Finally, Forefront Analytics LLC grew its stake in Immatics by 42.3% in the fourth quarter. Forefront Analytics LLC now owns 15,911 shares of the company's stock valued at $113,000 after purchasing an additional 4,731 shares in the last quarter. 64.41% of the stock is owned by institutional investors.

About Immatics

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the research and development of potential T cell redirecting immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.

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